
小捕手 CHAOS|Mar 07, 2025 07:40
Making Bitcoin "Ethereum like" (bringing smart contracts to Bitcoin) is a long-standing idea@ Middle-xyz can be seen as the latest effort and interesting attempt in this direction.
Unlike previous schemes, Midl :
① Essentially, it is the execution layer of a DPoS consensus mechanism. In order to reduce the centralization issue caused by DPoS, Midl adopts a regular rotation of the validator set. In addition, malicious behavior (such as executing invalid transactions) will be subject to confiscation.
② By introducing an EVM level abstraction layer, Midl allows users to directly interact with smart contracts through their Bitcoin wallet, achieving transaction finality with just one Bitcoin block confirmation (instead of the usual six).
What is the biggest benefit that Midl brings to Bitcoin?
The DPoS consensus mechanism of Midl allows validators to earn profits by staking BTC and Midl tokens, similar to the staking model of Ethereum 2.0, which has locked more than 30 million ETH (approximately 25% of the total supply) since switching to PoS in 2022. If Midl can also bring similar effects, at current market prices, $450 billion worth of Bitcoin will be pledged.
Finally, there are a few questions, such as the official diagram cited. As an abstraction layer, Midl can bring various common DeFi functions to the Bitcoin ecosystem, such as Swap, lending, stablecoins, etc. The problem is:
How to solve the problem of expensive Bitcoin gas? Or, is there a solution?
How to develop the Midl ecosystem? How can we attract users and developers to migrate to Midl?
What is the special feature of Bitcoin L2/ecosystem compared to other L1/L2?
Overall, Midl is a very interesting and noteworthy project with enormous track potential. Just look at a set of data to understand: as of March 2025, the total lock up volume (TVL) of DeFi is about $100 billion, while the market value of Bitcoin during the same period is $1.8 trillion, nearly 20 times that of the former.
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